National Bankshares Increases Manulife Financial (TSE:MFC) Price Target to C$43.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target increased by National Bankshares from C$38.00 to C$43.00 in a report released on Wednesday morning, BayStreet.CA reports. They currently have an outperform rating on the financial services provider’s stock.

Several other research analysts also recently weighed in on MFC. Jefferies Financial Group dropped their target price on shares of Manulife Financial from C$43.00 to C$42.00 in a research report on Thursday, July 18th. Evercore lifted their target price on shares of Manulife Financial from C$36.00 to C$37.00 in a research report on Friday, May 10th. CIBC lifted their target price on shares of Manulife Financial from C$34.00 to C$36.00 in a research report on Friday, May 10th. TD Securities lifted their target price on shares of Manulife Financial from C$40.00 to C$41.00 in a research report on Friday, July 12th. Finally, BMO Capital Markets lifted their target price on shares of Manulife Financial from C$40.00 to C$41.00 in a research report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of C$38.45.

Manulife Financial Stock Performance

Shares of MFC opened at C$34.29 on Wednesday. The firm’s 50 day moving average is C$35.85 and its 200-day moving average is C$33.58. The stock has a market capitalization of C$61.72 billion, a P/E ratio of 15.04, a P/E/G ratio of 12.56 and a beta of 1.10. The company has a debt-to-equity ratio of 48.44, a current ratio of 29.14 and a quick ratio of 2.58. Manulife Financial has a 12-month low of C$23.69 and a 12-month high of C$37.46.

Manulife Financial (TSE:MFC) (NYSE:MFC) last announced its quarterly earnings data on Wednesday, May 8th. The financial services provider reported C$0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.90 by C$0.04. The company had revenue of C$12.80 billion for the quarter, compared to analysts’ expectations of C$12.13 billion. Manulife Financial had a net margin of 18.29% and a return on equity of 10.48%. Equities research analysts anticipate that Manulife Financial will post 3.6078629 EPS for the current fiscal year.

Manulife Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date of this dividend was Tuesday, May 21st. Manulife Financial’s dividend payout ratio (DPR) is presently 70.18%.

Insider Buying and Selling at Manulife Financial

In other Manulife Financial news, Director Philip James Witherington sold 97,640 shares of Manulife Financial stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of C$35.17, for a total value of C$3,433,852.34. In other Manulife Financial news, Director Rocco Gori sold 48,640 shares of Manulife Financial stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of C$35.25, for a total value of C$1,714,560.00. Also, Director Philip James Witherington sold 97,640 shares of the business’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of C$35.17, for a total transaction of C$3,433,852.34. Insiders sold 157,878 shares of company stock worth $5,557,706 over the last ninety days. 0.02% of the stock is currently owned by insiders.

Manulife Financial Company Profile

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.